Czech Investor Buys Irish Power Plant
EP UK Investments (EPUKI), a subsidiary of Czech EPH, has completed the acquisition of 80% of the shares of Tynagh Energy from EFS Tynagh Holding Company and Gama Energy International, entities of GE Energy Financial Services and Gama Holding for an undisclosed sum. Mountside Partners remains a 20% shareholder. The acquisition was completed on October 29, EPH said.
Tynagh Energy is an independent power producer in the Republic of Ireland and owns a 400-MW combined-cycle power plant in Galway. This is the first acquisition by an EPH subsidiary in Ireland.
Jan Springl, CEO of EP Power Europe, said: "The acquisition of Tynagh complements our strategy to expand our presence in the European power generation sector. The power station is an important source of flexible, reliable, low cost energy across the electricity market in Ireland."
EPUKI is 100% owned by EP Power Europe, which is owned by EPH.